January 19, 2018
Marine Harvest buys into Northern Harvest
Marine Harvest has announced that it has entered into a share purchase agreement worth C$315 million with Northern Harvest, a leading East Coast Canadian salmon farmer. The acquisition price was on a cash and debt-free basis.
Northern Harvest is fully integrated with its own broodstock, smolt/hatchery, farming sites and processing operations. The potential acquisition supports Marine Harvest's long-term strategy of being a world-leading and integrated producer of seafood proteins.
Nothern Harvest expects to harvest 19,000 tonnes (GWE) of salmon in 2018, and currently has 45 farming licenses in Newfoundland and New Brunswick, both in Canada. It has an additional 13 farming licenses in application mode.
The transaction is subject to approval by relevant competition authorities and customary closing conditions.
